Robinhood Launch
About Robinhood Launch
Robinhood launched in 2013, offering commission free stock trading through a mobile app. Founded by Stanford graduates Vladimir Tenev and Baiju Bhatt, Robinhood targeted young, first time investors. It pioneered zero commission trading, forcing major brokerages to eliminate fees by 2019. Robinhoods gamified interface encouraged frequent trading. The app faced criticism after a 20 year old user died by suicide believing he owed 730,000 dollars. During the GameStop frenzy, Robinhood restricted trading, drawing congressional scrutiny. Robinhood democratized investing but also enabled risky speculative behavior by inexperienced traders.
Related Events
Buttonwood Agreement
The founding document of the New York Stock Exchange. On May 17, 1792, 24 stockbrokers signed an agr...
Vanguard Founded
John Bogle founded Vanguard in 1975, creating the first index mutual fund available to individual in...
First Hedge Fund
Alfred Winslow Jones created the first hedge fund in 1949. Jones used a strategy of buying undervalu...